Snap Inc. (NYSE:SNAP) CEO Evan Spiegel Sells 150,000 Shares of Stock

Snap Inc. (NYSE:SNAP) CEO Evan Spiegel sold 150,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $14.35, for a total transaction of $2,152,500.00. Following the sale, the chief executive officer now owns 3,477,844 shares of the company’s stock, valued at $49,907,061.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Evan Spiegel also recently made the following trade(s):

• On Thursday, February 8th, Evan Spiegel sold 150,000 shares of Snap stock. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00.

Snap Price Performance

Shares of NYSE SNAP opened at $15.85 on Thursday. Snap Inc. has a 12-month low of $7.86 and a 12-month high of $17.90. The firm’s 50-day moving average price is $11.51 and its 200-day moving average price is $12.99. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 3.76.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. On average, equities research analysts expect that Snap Inc. will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Snap

Hedge funds have recently added to or reduced their stakes in the stock. NBC Securities Inc. grew its stake in Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after acquiring an additional 1,445 shares in the last quarter. Allworth Financial LP grew its stake in Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after acquiring an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Snap during the fourth quarter valued at approximately $51,000. Rakuten Securities Inc. bought a new position in shares of Snap during the fourth quarter valued at approximately $73,000. Finally, Westpac Banking Corp boosted its stake in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after purchasing an additional 2,506 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SNAP has been the subject of several recent research reports. HSBC upgraded shares of Snap from a “reduce” rating to a “buy” rating in a report on Friday, April 26th. Truist Financial boosted their price objective on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Royal Bank of Canada boosted their price objective on shares of Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Benchmark restated a “hold” rating on shares of Snap in a report on Friday, April 26th. Finally, Barclays lifted their target price on shares of Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.79.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.